Venus Inc Paid $5,000 for Account Payable

question 104

Multiple Choice

Venus Inc. paid $5,000 for account payable. How does this transaction affect the accounting equation of Venus?

• A)Assets decrease by $5,000 and equity increases by $5,000.
• B)Assets decrease by $5,000 and liabilities decrease by $5,000.
• C)Assets increase by $5,000 and equity decreases by $5,000.
• D)Assets increase by $5,000 and liabilities increase by $5,000.

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Definitions:

Haworth Structure

A method for depicting cyclic sugars as planar rings with hydroxyl groups and other substituents positioned above or below the plane.

α-Furanose

A form of sugar where a furan ring, a five-membered oxygen-containing ring, is present in the α-configuration, relating to the position of the substituent at the anomeric carbon.

Haworth Structure

A conventional way of representing the cyclic structure of monosaccharides with a simple three-dimensional perspective.

β-Pyranose

A cyclic form of sugar where the ring contains six atoms, one of which is an oxygen atom, and the hydroxyl group at the anomeric carbon is in the equatorial position for beta configuration.